__________ Are What Is Available to Be Used

question 3

Multiple Choice

__________ are what is available to be used.They produce valued results.They are assets used to satisfy some need.

• A)Resources
• B)Goals
• C)Values
• D)Attitudes

Distinguish between suitable and unsuitable practices in internal control.

Grasp the concept of liquidity and its relevance to a company's financial health.

Understand the procedures and significance of controlling cash receipts and payments.

Recognize the use and purpose of a voucher system in internal controls.

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Definitions:

Double-Declining-Balance

A method of accelerated depreciation that doubles the straight-line depreciation rate; it applies this rate to the book value of the asset at the beginning of each year.

Depreciation

The process by which a business spreads out the cost of a capital asset over its expected useful life.

Double-Declining-Balance

A method of accelerated depreciation which doubles the straight-line depreciation rate, resulting in a faster depreciation of assets in the early years of their life.

Depreciation Expense

The organized allocation of a tangible asset's expenditure over its life of usefulness.